Looky, Looky, what do I see? I spot something great, POTENTIALLY.
The Industrial Average (INDU) took such a beating.
From such great growth, it seemed to be retreating,
but WAIT! That trend change could be changing.
Enough of the rhymes. Not lets look at the 6 month time frame of the INDU, we can see that it is currently sitting right at a break of the resistance. What does this mean? If things were to work properly, then we could easily be poised to test the highs of the 14,000.
By taking the measurement of the 6 month low and reflecting it over the resistance we see a price target in the 14,000.
Time to get excited? Not just yet, but lets watch closely and see which way the INDU will continue to move. Perhaps another great summer is just around the corner.